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A monthly magazine for business leaders and decision makers

6 WAYS TO EFFECTIVELY ‘START-(IT)-UP’ ONLINE

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SEMrush

6 WAYS TO EFFECTIVELY ‘START-(IT)-UP’ ONLINE

In an era driven by technology, the world both literally and figuratively has saturated to our hands and not necessarily are we all a fancy 9-5 grinding clown. With the internet spreading its wings like an albatross, making a living off it has become the new efficacious fad. And this fad is proving fruitful for many, given the ease of access it provides in terms of reach, comfort, and availability.

Starting a business online is a boon for all those entrepreneurs who may have incredible ideas but no funding, given the start-up cost online is extremely low. As long as you know the path right, a prosperous online business is in reach. Here is a little tour on the insight of how to start an online business;

STRUCTURE IT

The first decision that you need to take before you start your business is to decide whether you would like to start it as a sole proprietorship, limited liability company, or a corporation.

A sole proprietorship can be taken care of by the same family members, say for example husband and wife can run a business without worrying about the necessity of any paperwork for the setup. However, a sole proprietor will be wholly responsible for the debts and the responsibilities of the business.

And this is the reason why several people choose to go for a ‘limited liability’ company rather than picking a sole proprietorship for a successful online venture. A person will not be personally liable for the company obligations if they are opting for a structure of limited liability for their venture, which would either include a corporation or a limited liability company.

Though the requirement of maintaining records and reporting is far more bendable in a limited liability firm, the good thing about being a part of a corporation is that it will easily draw in the investors for funds from outside.

REGISTRATION IT

In case of an LLC or a corporation, the paperwork needs to be filed with the state. The best decision is to do the registration in the state you reside in, it always proves beneficial for small businesses. This helps you in negating the amount you have to pay additionally for registration to do the business and the cost incurred in hiring an agent for the registration as well is discounted.

NAME IT

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There is no need to rush into a name, take your time, think over it and come up with something that suits your business the best. There are several things that you will have to keep in mind before you pick a name like it should benefit your product and its marketing. You will have to think of a name that goes with the domain name you register. Once you are through thinking of a name, the first thing to do is to check on Google if there is a company with the same name that exists, in case there is, then drop it, think of something else. Also, check for a trademark, several websites enable you to check if the name is registered already or not.

DOMAIN IT

Next step is to register your domain name and try to your max to keep both the company name and the domain name the same. This will help your consumer to reach you easily through your website. You can also check online if the name you have thought of is already registered online or not, all you have to do is enter the domain name you desire and look for results under the same. If the result states ‘cannot find page’ you’re lucky, the domain is free, but in case of any other result, you will have to think of a different domain name.

The process of registering a domain is pretty simple, several business houses provide these services. The website that is offering you the service will need you to register an account with them and pay an annual fee to make your purchase of the domain you would like to register.

DOCUMENTATION IT

When you look for registration of your business with the state, there will be a process of documentation that will have to fulfill. The filing of the documentation will come in a certain charge that is required for the filing of papers. The fees for filing the papers are different for each state. Once you are through the process of documentation, you will receive a certificate that will ensure that your corporation or LLC has been officially formed.

WEBSITE IT

Buy a web hosting and put up a website for the consumer to locate your brand and understand the services you provide. You can avail these services from the company that you got your registration done from, they will also help you set up a website. Your website can operate freely on the internet, it’ like buying space for your brand online.

Though a website can be put up on your own, the best is to find yourself a professional web designer and get a website developed for the best results. Unless you are a professional yourself, get one hired if you want your website to run perfectly online.

There are several things that you’ll need to get done, so keep a decent budget with yourself. You will have to get a logo designed and placed, you will need content and images placed right, you will have to optimize the website according to the search engines, and get it configured the way you want it to look with integrating the right features.

In this technologically driven era, the internet has become a hustle in itself. You would need to do a lot of work for your website to become a successful one. Social media will help you in advertising your product and services better than the old-time grapevine methods. Market your business well through your website and in no time you will start to see results.

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